Nuclear Energy is responsible for 10% of Global electricity generation and 18% in OECD countries. Nuclear is the World’s second largest source of low carbon power generation (behind Hydropower).
Nuclear has the potential to be a major part of the solution to climate change – although one of the biggest impediments to its success is the expense to build and operate.
Nuclear Energy is going through something of a renaissance with the advent of small modular reactors (SMR). SMRs are smaller and simpler than traditional nuclear reactors. SMRs are typically designed to have a power output of less than 300 megawatts, which is about one-third of the generating capacity of traditional nuclear power reactors.
They are much cheaper, simpler to construct and have a much smaller footprint than traditional nuclear plants. Whilst still under development, SMRs could become a major role in the transition to a clean energy future.